DEBIT CARDS FUEL OVERDRAFT OUTRAGES

Forty dollars for a Big Mac? That might sound over the top, but it barely tips the outrage meter when you compare it to the 20,000-percent-interest loan U.S. consumers regularly take out to pay for such $40 burgers. How could this be?

Well, bounced checks just aren’t what they used to be.

A new study says that most of the time consumers overdraw their accounts now, bounced checks aren’t the culprit. Instead, debit card purchases are chief cause of overdrafts. cont….